Keeneland January Sale Opens Monday

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LEXINGTON, KY (Jan. 4, 2013) – Keeneland kicks off the New Year with its January Horses of All Ages Sale, which begins Monday and is highlighted by the complete dispersal of Issam Fares’ Fares Farm.

Featured among the 80-horse Fares Farm consignment are Canadian champion Embur’s Song, in foal to Giant’s Causeway; Deputy Saint, a half-sister to two-time Horse of the Year Curlin, in foal to Lemon Drop Kid; and a yearling half-sister to Curlin by Distorted Humor. Lane’s End Farm will act as agent for the dispersal.

The January Sale, which runs through Friday, January 11, is acknowledged as a strong market for top-quality racing and broodmare prospects, and ‘short’ yearlings (weanlings who officially turned a year old on January 1).

Tax legislation passed earlier this week by Congress and signed by President Obama provides positive investment incentives for horse owners. Bonus depreciation, which applies to new property whose original use begins with the taxpayer, such as a yearling horse, has been reinstated at 50 percent, just as it was in 2012. The $500,000 expense allowance applies to new or used property purchased in 2012 or 2013, such as a broodmare, and can be used to reduce taxable income derived from the horse business or any other business from which the taxpayer has income. Also, accelerated depreciation for young racehorses continues through 2013.